RATE Group | Andreas Antonopoulos: A Bitcoin ETF is a “Terrible Idea”
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Andreas Antonopoulos: A Bitcoin ETF is a “Terrible Idea”

20 Aug Andreas Antonopoulos: A Bitcoin ETF is a “Terrible Idea”

Posted at 02:51h in Bitcoin News by

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Andreas M. Antonopoulos, one of the most respected and active personalities within the Bitcoin ecosystem, shared his impressions this week regarding the consequences that an approval of a Bitcoin ETF could have for the crypto ecosystem.

In his popular video series “Bitcoin Q&A”, Antonopoulos referred to the matter as a hot topic that was constantly addressed in his Patreon session, which took place on July 28th 2018.

In Antonopoulos’ words, an ETF facilitates financial operations for investors, without having to manage a specific asset:

“The idea here is to take a reserve of bitcoins and then make them tradeable instruments that can be traded on traditional markets like stocks. This is a custodial reserve system, where the custodian holds the actual bitcoin and what you’re getting is a share in their fund — not bitcoin.

It allows traditional / institutional investors to dabble in the bitcoin price, speculate on bitcoin, without actually holding bitcoin or having to open an…

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